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05.12.2005 Business & Finance

Amansie West Rural Bank introduces mobilization products

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Kumasi, Dec. 5, GNA - The Amansie West Rural Bank has introduced two funds mobilization products to increase the bank's total deposit base by 100 per cent by the end of the year.

The measure is also to increase the bank's ordinary share capital to conform to the demands of the new banking law.

Mr George Osei-Mensah, General Manager of the bank, who announced this, mentioned the two products as the Golden Savings Raffle (GSR), which has a special deposit account of 500,000 cedis or multiples of it that earned customers raffle coupons.

The other product, he said was the Precious Owner Promotion (POP), which is a shareholding account that customers could buy 200 shares for 200,000 cedis to qualify for a coupon and enter the raffle. Speaking at the maiden draws of the raffle for the two products at Ahodwo in Kumasi at the weekend, Mr Osei-Mensah said customers could use such deposits apart from entering the draw, also as a collateral to access credit facilities and also receive attractive interest rates from the deposits.

Mr Kwadwo Emmanuel, who won the first prize of the draw, took home a 21-inch colour television with a video deck. Madam Agnes Wood, who had the second prize collected a double door refrigerator, while the third prize of a computer and its accessories went to Mr Kwadwo Fordjour. Nana Akwasi Addai, Chief of Ahodwo, commended the bank for the initiative and hoped people will continue to buy more shares to promote the bank.

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